The Biden administration will allow Trump-era tariffs on hundreds of billions of dollars of Chinese merchandise imports to continue while it reviews the need for the duties. The tariffs will continue after the administration received a formal request from businesses benefiting from them, the Office of the US Trade Representative said in a statement Friday. It … Read More
If you thought transatlantic trade wars were a forgotten relic of Donald Trump’s presidency, think again. The EU is threatening to pull out the big guns if Washington doesn’t change its new tax credits for electric vehicles, which will incentivize U.S. consumers to “Buy American” when it comes to getting a greener car. Read the … Read More
“For European businesses, on the other hand, access to the Indian market is difficult,” said Euratex. “This is because they must face non-tariff barriers (relating to proof of origin and quality control measures among others), as well as contend with Indian national and state level support programs which distort equal opportunities between European and Indian … Read More
A Paris-based French economist has said that the Chips and Science Act passed by the U.S. Congress is a purely protectionist law. Jean-Marc Daniel, an economist, professor and editor of the magazine Societal said in a recent interview with Xinhua that historically all countries that turned to protectionism have been losers. Read the article.
“American made” isn’t just a slogan. Behind these words are millions of good-paying jobs for hardworking families. I have been saying for years that the best social program is a good-paying job. For generations, a simple idea has defined the American Dream: that if you work hard and play by the rules, you can make … Read More
Domestic producers often pay double—or more—in federal taxes compared to large multinational competitors that have offshored production and shift profits to tax havens. Read the article.
Specifically, CPA proposes an additional 15% tariff increase on all imported goods from Free Trade Agreement (FTA) countries, and an additional 35% tariff increase on all imported goods from Non-Free Trade Agreement (NFTA) countries. For products that the United States cannot produce domestically, such as minerals, the CPA proposal calls for zero additional tariffs. Read … Read More
Speaking in Melbourne on Monday, Prime Minister Anthony Albanese urged more investment needed to be made to bring back onshore production and manufacturing, claiming it was a matter of economic protectionism Australia must adopt. Read the article.
“Why would you import something which can be produced in the country,” said a finance ministry official. Countering the recent criticism of rising protectionism, finance ministry officials on Thursday said that the government will increase the customs duty or keep it high on those items that can be domestically manufactured to meet the local demands. … Read More
China on Wednesday criticized a U.S. law to encourage processor chip production in the United States and reduce reliance on Asian suppliers as a threat to trade and an attack on Chinese business. The measure will “disrupt international trade and distort global semiconductor supply chains,” said a Foreign Ministry spokesperson, Wang Wenbin. “China firmly opposes … Read More
